January, 2007:
The Requirements For An SBA Acquisition Loan
Each lender offering general business loans under the SBA 7-A loan program must comply with certain terms and conditions. Unfortunately, many lenders go beyond these minimum terms and conditions and impose more rigid requirements that exceed the SBA minimum criteria. However, a business buyer should not assume that each lender’s individual loan requirements are the same. Instead, there are often significant variations from one lender to the next and depending on the particular strengths of each loan applicant, one lender may be more accommodating than another. Therefore, it is important for the business buyer to have an understanding of the general criteria adopted by these lenders.
November, 2006:
Protect The Name Of Your Recently Purchased Business
Time and time again, we observe the situation where a new business owner makes a substantial investment to acquire a business and because there are few “hard” assets, a large portion of the purchase price is allocated to the name, and the “good will” attributable to that name. Previously, the seller may have invested substantial sums of money over the years creating name recognition in that name through marketing and advertising, etc. It is now important to properly protect that asset.
September, 2006:
Find A "Turnkey" Business
If a business requires the owner to be there in order to operate effectively, it is too dependent on the owner, which negatively reflects upon the value assigned to the business. There need to be procedures in place to ensure the business can operate without the day-to-day oversight of the owner. These procedures must ensure that customer service, supply chain, billing, collections, and all other key elements vital to an operation can function independent of the owner''s involvement.
July, 2006:
Private Annuity Trusts
Avoid immediate taxation following the sale of your business and grow the net sale proceeds in a tax free manner using a Private Annuity Trust.
Covers the key issues to consider when deciding to sell you business. Reviews the need for adequate financial records, operations, growth opportunities, personal structure and more...
